Next Concerning pattern for BTC.
As in my previous analysis I predicted BTC would actually go to 49.3k and might face rejection and BTC did that. Today BTC made a cup and handle on 4h,1h time frame but it was a bull trap RIP long positions. BTC is actually forming a downtrend preparing for September correction. The correction's target is 39.2k but the 42k support level is the most important level to watch because of the big support zone in 42k level. Personally if I'd be in spot I'll buy 25% at 44k, 25% at 42k, 25% at 40k and 25% at 39k. BTC formed head and shoulders visible in 4h time frame which made BTC go down a bit. However BTC is still above the uptrend line but if breaks the support expect a downtrend. Don't be greedy in such market conditions. Be greedy when the market is down.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.